Energy Factor

Carbon capture: Creating jobs, cutting emissions

• Carbon capture and storage (CCS) offers an opportunity to create a vast network of new jobs, spark billions in economic development and generate infrastructure investments around large industrial hubs.

• The International Energy Agency’s Sustainable Development Scenario estimates the need for 70 to 100 new CCS facilities to be built per year by 2050, requiring between $655 billion and $1.28 trillion in capital spending. That also means up to 100,000 construction jobs and up to 40,000 positions to operate that equipment. 

• Learn more about the transformational potential CCS has as a source for new solutions that go beyond the environmental benefits.

Check out these CCS benefitsExxonMobil announces low-carbon hydrogen project in Baytown, TX

Last week, ExxonMobil announced some big news for large-scale emissions reduction. We’re taking the next step in the development of the world’s largest low-carbon hydrogen production facility in Baytown, TX with the kickoff of front-end engineering and design (and the beginning of site-work). The low-carbon hydrogen and ammonia produced at this facility will be used to displace hydrocarbon fuels currently being used in large-scale industrial operations like power generation, chemical plants and refineries, eliminating millions of tons of carbon dioxide emissions annually. Read the full announcement here

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